High Court throws out Sky TV warranty appeal
The Court of Appeal has dismissed appeals by Digital Satellite Warranty Cover and Satellite Services.
The businesses, which are not registered with the Financial Services Authority (FSA), provided cover for Sky satellite TV equipment, in return for an insurance premium.
Both firms described their offerings as “extended warranties” but in January, the FSA secured winding up orders from the High Court, when the Court ruled that the warranties on offer amounted to contracts of insurance.
A third unauthorised firm, Nationwide Digital Satellite Warranty Services, was also wound up in January but did not appeal the High Court’s decision.
The FSA’s acting director of enforcement and financial crime, Tracey McDermott, comments: “This decision will help protect satellite TV customers from inadvertently dealing with an unauthorised business, but also serves as a useful reminder to other firms that offer similar cover that they may need to seek authorisation.”
Category: Financial Services Authority News, Home Insurance News, Insurance News, Legal News
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